Binance Executive Tigran Gambaryan Denied Bail on His 40th Birthday by Nigerian Court
Tigran Gambaryan, the Binance executive who was detained in Nigeria, had his bail request denied on his 40th birthday during a court hearing in Abuja on Friday.
According to reports from Nigerian media outlet Punch News, Judge Emeka Nwite ordered that the Head of Compliance for the crypto exchange remain in prison due to concerns that he may abscond if granted bail.
Gambaryan was initially detained alongside Binance’s Regional Manager for Africa, Nadeem Anjarwalla, in late February and was later charged with money laundering and tax evasion.
Anjarwalla, however, managed to escape on foot and is still at large, despite earlier reports claiming that he had been recaptured in Kenya.
In a statement originally published by DL News, Tigran’s wife Yuki Gambaryan expressed her disbelief that her innocent husband is now facing trial for charges he has no involvement in, especially on his 40th birthday. She hopes that common sense and justice will prevail and that Tigran will be allowed to return home to his family.
Earlier this month, Binance CEO Richard Teng addressed the situation publicly for the first time in a blog post on the crypto exchange’s website. He alleged that the company’s employees were approached by “unknown persons” in Nigeria who offered a secret settlement to resolve the issues they were facing.
According to the New York Times, the so-called “settlement” was actually a $150 million bribe from a Nigerian government official.
Teng refused the deal, stating that the safety of his team in Nigeria was a major concern, and they immediately left the country.
However, when the Binance executives were invited back to Nigeria for policy talks with the assurance of safe passage, they were detained.
The Nigerian government has denied Teng’s claims, dismissing them as a diversionary tactic and an attempt to blackmail the country. They maintain that Binance is under investigation for allowing its platform to be used for illegal activities such as money laundering, terrorism financing, and foreign exchange manipulation.
Gambaryan’s formal arraignment is scheduled for Wednesday, May 22. It remains uncertain whether Anjarwalla will be extradited to Nigeria if he is captured.